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Tuesday, November 18, 2014

INDIAN BENCHMARKS ended on a flat note after hitting record high ............

INDIAN EQUITY BENCHMARKS ended little changed on Tuesday, retreating from record highs hit earlier in the session, as investors booked profits even as rising confidence in the domestic economy and rate-cut hopes boosted firms such as Larsen & Toubro.

Reserve Bank of India is expected to cut interest rates as early as in February, helping spur economic growth.Further, Shares of jewellery companies also fell after the central bank said it was discussing increasing restrictions on gold imports.

Punj Lloyd jumped 4.97%, after the company said it has secured Rs666 crore Asian highway contract from the Ministry of Road Transport & Highways.

The crucial resistance for Nifty is now seen at 8475 and above this 8510. Support for the immediate term is now placed at 8320 and next support will be 8225.